Koshidaka Holdings Co., operator of the world’s largest karaoke chain, is investing P34 billion to open 300 new outlets in the Philippines, as part of P51 billion in new commitments from Japanese companies.
The Philippines secured the new investments and project expansions from Koshidaka and three other Japanese conglomerates, the Department of Trade and Industry (DTI) said Monday.
The commitments, which cover consumer services, property development, advanced industries and clean energy, were unveiled at the Philippine Economic Briefing in Osaka after a series of high-level meetings in Tokyo, the DTI said.
DTI Secretary Cristina Roque said the talks allowed the Philippine economic team to align government support and ensure a smooth rollout of the projects.
“These commitments in green energy, smart housing, healthcare, and creative services highlight the strength of our partnership with Japan,” Roque said in a statement.
“The DTI and the economic team will work together to ensure these projects generate quality jobs, strengthen supply chains, and advance the country’s shift to a green, digital, and broad-based economy,” she said.
Koshidaka will spend P34 billion to open 300 outlets nationwide over the next decade, creating more than 1,500 direct jobs, the DTI said.
Marubeni Corp. committed P15 billion for real estate, fintech, healthcare and afforestation projects.
Sojitz Corp. pledged P2 billion to P3 billion in a local property developer to attract AI, semiconductor design, software, and healthcare firms. The company also expressed interest in aviation ventures.
Mitsui & Co. confirmed its partnership with Metro Pacific Investments Corp. and SteelAsia Manufacturing Corp. on a steel recycling project.
